Newbie from Reston, Virginia (NoVA/DC)

[Zachary Martin]

Hey there,

I've been on the site for a bit absorbing as much information as I can but I thought it was time to dive in and make an intro.

I don't have much experience in real estate investing, unless you count my own home, but I'm very interested in mainly buy and hold properties (for the passive income) with an open mind to other aspects of REI if they make sense. I'm teaming up with my father to do this and I'm eager to get started.

I've listened to every podcast here, read the UBG, and am interested in finding some REI meetups or clubs in my area to learn more and pick peoples brains. As I'm in the Northern Virginia/DC area and prices are much more than the ~$40k that some areas get, its a little daunting and I'm pretty nervous on getting started.

I'm looking forward to engaging on the site with all of you!

[Jacob Elbe]

Zachary Martin h

Welcome to BP!

I live in Arlington and am originally from Springfield, but am very familiar with the prices in this area that tend to make cash flowing properties hard to find. Between price to rent ratios and HOA/condo fees it can be tough. I'm sure they are out there but I haven't found them yet. We invest elsewhere because of that. For me, the easiest way to get started was with a turkey provider that showed me property options, then stayed on as the property manager after closing. So it didn't matter that I've never been to Cleveland OH because they took care of everything. And the returns are just better in other markets. I can buy a fully rehabbed property in Cleveland or Indianapolis for around $60k that rents for $850+ a month. I do have to pay 20% down, but that's doable. I've started branching out from turnkey now in order to buy with a little more equity, but I still buy at a distance with a realtor and property manager I trust. I hope to invest locally if I can find the right deal but am happy to continue investing elsewhere in the meantime. Always good to see other people getting started though! I'm no expert but let me know if you ever want to grab coffee!
Jacob